FICAMA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
FICAMA
Largest movements
- Cash -€3.8m
down €3.8m (-79.8%), from €4.7m to €956,287
mainly Current investments (-€2.2m) and Investment in fixed assets (net) (-€2.1m)
- Current investments +€2.2m
up €2.2m (+37.8%), from €5.9m to €8.1m
- Financial fixed assets +€2.1m
up €2.1m (+27.1%), from €7.8m to €9.9m
- Receivables within one year -€338,750
down €338,750 (-72.1%), from €469,997 to €131,247
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€903,008
down €903,008 (-69.8%), from €1.3m to €390,722
- Financial charges +€219,677
up €219,677, from -€27,982 to €191,694
- Taxes -€119,942
down €119,942 (-78.0%), from €153,846 to €33,903
- Gross operating margin +€7,680
up €7,680 (+31.3%), from -€24,531 to -€16,851
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,926,403 | €20,073,253 | +€146,849 | +0.7% |
| Fixed assets | 21/28 | €7,796,600 | €9,909,100 | +€2.1m | +27.1% |
| Financial fixed assets | 28 | €7,796,600 | €9,909,100 | +€2.1m | +27.1% |
| Current assets | 29/58 | €12,129,803 | €10,164,153 | -€2.0m | -16.2% |
| Amounts receivable after more than one year | 29 | €900,000 | €900,000 | = | 0.0% |
| Other amounts receivable | 291 | €900,000 | €900,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €469,997 | €131,247 | -€338,750 | -72.1% |
| Other amounts receivable | 41 | €469,997 | €131,247 | -€338,750 | -72.1% |
| Current investments | 50/53 | €5,908,425 | €8,142,413 | +€2.2m | +37.8% |
| Cash at bank and in hand | 54/58 | €4,734,263 | €956,287 | -€3.8m | -79.8% |
| Deferred charges and accrued income | 490/1 | €117,118 | €34,206 | -€82,913 | -70.8% |
| Total equity and liabilities | 10/49 | €19,926,403 | €20,073,253 | +€146,849 | +0.7% |
| Equity | 10/15 | €19,831,246 | €19,978,213 | +€146,967 | +0.7% |
| Contributions | 10/11 | €6,725,000 | €6,725,000 | = | 0.0% |
| Reserves | 13 | €13,106,246 | €13,253,213 | +€146,967 | +1.1% |
| Distributable reserves | 133 | €13,106,246 | €13,253,213 | +€146,967 | +1.1% |
| Amounts payable | 17/49 | €95,158 | €95,040 | -€118 | -0.1% |
| Amounts payable within one year | 42/48 | €91,451 | €92,464 | +€1,013 | +1.1% |
| Trade debts | 44 | - | €1,013 | +€1,013 | |
| Suppliers | 440/4 | - | €1,013 | +€1,013 | |
| Taxes, remuneration and social security | 45 | €91,451 | €91,451 | = | 0.0% |
| Taxes | 450/3 | €91,451 | €91,451 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,707 | €2,576 | -€1,131 | -30.5% |
| Other operating charges | 640/8 | €1,258 | €1,307 | +€49 | +3.9% |
| Gross operating margin | 9900 | -€24,531 | -€16,851 | +€7,680 | +31.3% |
| Operating profit (loss) | 9901 | -€25,789 | -€18,158 | +€7,631 | +29.6% |
| Financial income | 75/76B | €1,293,731 | €390,722 | -€903,008 | -69.8% |
| Recurring financial income | 75 | €1,293,731 | €390,722 | -€903,008 | -69.8% |
| Financial charges | 65/66B | -€27,982 | €191,694 | +€219,677 | |
| Recurring financial charges | 65 | -€27,982 | €191,694 | +€219,677 | |
| Profit (loss) for the period before taxes | 9903 | €1,295,924 | €180,871 | -€1.1m | -86.0% |
| Income taxes | 67/77 | €153,846 | €33,903 | -€119,942 | -78.0% |
| Profit (loss) for the period | 9904 | €1,142,079 | €146,967 | -€995,111 | -87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,142,079 | €146,967 | -€995,111 | -87.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.